Led by the banking, insurance and financial services sector, online hiring grew 11 per cent in the June quarter over a year ago, a Monster.com report said today. “The implementation of Goods and Service Tax (GST) is a progressive step and is likely to have an encouraging impact on the job market nudging the overall growth,” Monster.com
APAC & Middle-East Managing Director Sanjay Modi said. Monster Employment Index, a gauge of the country’s online job demand rose to 263 in three months ended June 2017 from 237 in the year-ago period. India is on the brink of major transformation owing to several economic reforms and digital disruption over the last few months, Modi said.
“The Monster Employment Index for June has captured this sentiment reporting 11 percent year on year growth. It was majorly driven by banking, financial services and insurance sector making Mumbai (up 15 percent) the only metro to have exhibited a double-digit annual growth,” he added.
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In terms of sectors, banking/financial services, insurance led long-term growth chart with a 44 per cent year-on-year growth followed by home appliances (34 per cent) and consumer goods/ FMCG, food and packaged food industry (33 percent).
Among cities, Kolkata topped with the highest growth in online recruitment, up 40 per cent, followed by Baroda (36 percent), Ahmedabad (20 per cent) and Mumbai (15 per cent). Chennai saw the steepest decline, down 12 per cent, while Delhi-NCR matched the year-ago level.
“The short-term growth parameters also indicated reduced demand in Delhi-NCR; down one percent month-on-month, down six percent in three-month and down two percent in six-month,” the report noted.